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SWOT ANALYSIS

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Strategic Advantage and SWOT Analysis
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Date 31/JULY/2016

SWOT analysis in developing a strategic advantage?
I read the article of Nikolaou, Ierapetritis, & Tsagarakis (2011) about the evaluation of the
prospects of green entrepreneurship development using a SWOT analysis.In this article
Nikolaou, Ierapetritis, & Tsagarakis give a complete guidance and instruction about swot
analysis to develop a strategic advantage.

SWOT ANALYSIS

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Here the author's framework a comprehensive methodology based on swot analysis to identify
the most important factors and concerns for public policy organizations to encourage local
entrepreneurs to invest in sustainable development.
The writer indicates some points which are the primary requirement for swot analysis.As SWOT
is a study taken to establish the threats, opportunities, weaknesses, and strengths that the Greek
Development Agencies (DAs) regard as crucial is empowering local entrepreneurs in leveraging
locally available resources to explore newer opportunities.
Some of the essential points which Nikolaou, Ierapetritis, & Tsagarakis indicates in the
article are given below:
1) To identify the internal factors including organizational culture, expertise, resources and
unique qualities.
2) External factors which have direct or indirect effects on organization performance.
3) Deep research should be conducted by which data must be collected.
4) Focusing on the strengths and weaknesses.
5) A deep research to analyze market opportunities.
6) Having knowledge and awareness of threats facing the organization.

The Two Most Important Parts of SWOT Analysis
SWOT is an acronym for strengths, threats, weaknesses, opportunities, and threats. A SWOT
analysis establishes weaknesses and strengths of the firms in an internal environment capacity
while considering the external business environment where opportunities and threats are
presented. Specifying the actions corresponding to elements identified in the analysis is the most
crucial part of SWOT analysis. SWOT analysis results can be used in reducing the possibility of
adverse occurrences that may adversely affect a business or be used to improve the management
position of the firm. Such results are crucial in enhancing the performance of the organization.
SWOT Elements:
Elements of a SWOT analysis must be identified before a sound synthesis can be carried out to
filter out the most crucial ones. Strengths are the firm’s internal factors such as good image,
skills, resources, brand name, capabilities, and ...